⚠️ Cautionary Setup: EDU/USDT in Heavy Downtrend ⚠️
This is not a call to buy the dip. EDU is down -15.94% in 24h, showing severe weakness. I'm sharing this as a critical educational chart on how to spot and potentially trade a breakdown, or more wisely, when to stay away.
Asset: EDU/USDT
Current Price: ~$0.1308
Context: Strong downtrend, breaking below key supports.
📉 Market Structure & Potential Scenarios:
Current Action: Price is testing the 24h Low ($0.1290). A decisive break below could trigger another leg down.
Key Resistance (For any bounce): $0.1330 - $0.1350 (Previous support now turned resistance, near MA levels).
Next Support (If breaks down): No strong support visible until much lower levels, possibly $0.1200.
🎯 For Aggressive Traders ONLY (High Risk):
Short Entry (If bearish continuation): On a break and close below $0.1290.
Stop Loss (SL) for Short: $0.1350 (Above the new resistance zone).
Take Profit Targets (TP) for Short:
TP1: $0.1250
TP2: $0.1200
🔍 Why This is a Red Flag Chart:
Extreme Momentum Down: -15.94% daily move is a capitulation signal.
Volume: Selling volume is dominant.
Higher Timeframes: All periods from 7 days to 1 year are deep in the red.
Safest Play: Often, the safest trade in such a clear downtrend is NO TRADE. Waiting for a clear base and reversal structure is prudent
#EDU #Launchpad #Downtrend #Breakdown #BukhariTechTips $EDU